Insights
Practical tax and money answers for Canadian owners and professionals, written by the accountants who file the returns.
The Real Cost of Buying an Expensive Car in BC: PST, Luxury Tax and GST
A $130,000 car in BC costs $163,275 once PST, the federal luxury tax and GST are stacked. Here is the order they apply in, with the Province’s own examples.
Spousal RRSPs and the Three-Year Rule Most People Find Out About Too Late
A spousal RRSP shifts retirement income to the lower earner. Withdraw within three years of a contribution and the tax comes back to the contributor.
Are Lottery Winnings Taxable in Canada? No, and Here Is What Is
Lottery winnings of any amount are not taxable in Canada. What the winnings earn afterwards is, and that is where the actual tax planning sits.
Tax on RRSP Withdrawals: The Withholding Rates, and Why They Are Not the Whole Bill
10%, 20% or 30% is withheld on an RRSP withdrawal depending on the amount. That is not the tax you owe, and the difference surprises people every April.
Is There an Inheritance Tax in Canada? What Actually Gets Taxed
Canada has no inheritance tax and no estate tax. What is taxed is the deemed disposition on the final return, and the difference matters.
Filing Taxes Late in Canada: The Penalties, and the One Route That Caps Them
What the CRA charges when you file late, including the penalties most guides leave out, and how the Voluntary Disclosures Program changed on October 1, 2025.
Behind on Payroll Remittances: What the CRA Charges and What to Do
The CRA penalty ladder for late payroll source deductions, why this debt is treated more urgently than corporate tax, and how to get back in front of it.
The CRA Froze My Bank Account: What It Is and What to Do
Why the CRA can freeze a bank account without a court order, what a requirement to pay actually is, and the routes to getting the account released.
CRA Collections: What Happens Next, and What You Can Still Do
What the CRA can do to collect a tax debt, in the order it usually happens, and the options that remain open at each stage. Written for Canadian business owners by a CPA firm.
BC PST on Accounting Services: The October 1, 2026 Rules Explained
BC applies 7% PST to accounting services from October 1, 2026. Which services are caught, the four exemptions, the transitional rule that can still save you the tax, and why this one is not recoverable like GST.
Selling a Home You Rented Out: Canadian Tax Rules
Selling a Home You Once Rented Out: How the Tax Actually WorksKey takeawaysSelling your home is usually tax free, but you still have to report it on Schedule 3 and Form T2091.Turning a home into a rental triggers a deemed disposition at fair market value, with no...
BC Employer Health Tax 2026: Rates, Thresholds and Dates
BC Employer Health Tax 2026: Thresholds, Rates and the Cliff at $1.5MKey takeawaysPayroll of $1,000,000 or less pays nothing. The exemption doubled in 2024, so recheck rather than assume.Between $1M and $1.5M the rate is 5.85% of the amount above $1,000,000.Over $1.5M...